证券日报网2月9日讯 ，经纬恒润在接受调研者提问时表示，公司近年持续推进国际化业务布局，在欧 洲、美国、马来西亚建有子公司，并建立德国科布伦茨研发中心以增强欧洲研发交付能力。公司依托境 内主体的研发制造与交付能力开展业务，同时通过海外研发与服务布局为相关客户提供本地化技术支持 与项目交付保障，公司对外出口产品包含天窗控制器、PLGM、eTurbo、车门控制器、整车控制器及驾 驶员监控系统等电子产品，出口地区包含德国、荷兰、美国、日本、韩国、印度等国家。 （文章来源：证券日报） ...

Financial Data and Key Metrics Changes - Net sales for Q2 2025 were $913 million, flat at constant currency, indicating outperformance in light vehicle turbo sales for both gasoline and diesel applications [6][14] - Adjusted EBIT was $124 million with an adjusted EBIT margin of 13.6%, reflecting a 20 basis point decline due to unfavorable sales mix and tariff impacts [7][16] - Adjusted free cash flow for the quarter was $121 million, resulting in a conversion rate of 62% for the first half of 2025 [7][18] Business Line Data and Key Metrics Changes - Gasoline turbo sales grew by 4% in the quarter, outperforming the industry, while diesel sales experienced softness due to lower production in Europe and reduced aftermarket demand in North America [6][15] - The company recovered $14 million in tariffs during the quarter, contributing positively to financial performance [15] Market Data and Key Metrics Changes - The company secured over $1 billion in light vehicle program extensions, enhancing future revenue visibility [10] - There is growing interest in turbocharger development for range-extended electric vehicles, with new wins in China and Europe [10][12] Company Strategy and Development Direction - The company aims to leverage its capabilities to develop differentiated high-speed and efficient technologies, focusing on robust returns for shareholders [23][25] - A new R&D center has been integrated in Wuhan, China, to strengthen the company's presence in a rapidly evolving market [13] Management Comments on Operating Environment and Future Outlook - Management raised the 2025 outlook to reflect a stronger euro-dollar exchange rate, maintaining prior industry views while accounting for tariff impacts [20][21] - The company anticipates continued gasoline strength and incremental operating performance to offset unfavorable product mix, with expectations of full tariff recovery [21][37] Other Important Information - The company repurchased $22 million of common stock and paid a $12 million quarterly dividend, with a commitment to return at least 75% of adjusted free cash flow to shareholders [8][19] - The company has reduced total outstanding shares by 39% since Q1 2023 through its share repurchase program [19][24] Q&A Session Summary Question: Could you discuss the unfavorable sales mix and adjustments being made? - The unfavorable sales mix is driven by strong growth in gasoline sales, which have lower margins, and softness in aftermarket and off-highway segments primarily in North America [29][30] Question: Why didn't the company buy back more stock despite having more cash? - The buyback strategy is not linear, and the company remains committed to returning 75% or more of cash to shareholders over time [32][32] Question: What are the drivers of stronger operating performance in the second half? - Continued cost control and potential stabilization of volumes are expected to drive performance, with a conservative outlook due to tariff impacts [35][36] Question: Will the company fully recover tariff costs this year? - The company expects to fully recover tariff costs, having achieved this since the beginning [37][38] Question: How substantial could the large turbo business for backup power become? - The large turbo business is expected to grow significantly, potentially reaching hundreds of millions of dollars in revenue within the next three to five years [44] Question: Why was stock repurchase not more aggressive this quarter? - The stock repurchase strategy is non-linear, and the company has dry powder for potential block trades, while remaining committed to its capital allocation framework [47]